KARACHI: The Pakistan Stock Exchange (PSX) has unveiled its fundraising calendar for January 2025, planning to raise Rs250 billion through Sukuks. This initiative continues PSX’s commitment to supporting the growth of the Islamic banking industry.
Through a recent circular, PSX has informed the market players regarding the revised Auction Target Calendar for the sale of GoP Ijarah Sukuks. The auctions will be carried out by both Fixed Rental Rate Sukuks and Variable Rental Rate Sukuks to consider all segments of investors.
Key Auction details:
- Short-Term Sukuk: A sum of Rs. 75 billion will be raised against one year’s Sukuk.
- Three Sukuks: Rs25 billion each will be equipped with tenures of 3, 5, and 10 years with a Fixed Rental Rate.
- Two Sukuks: Will provide Rs25 billion each with tenures of 3 and 5 years having a Variable Rental Rate.
- 10-Year Sukuk: Rs50 billion will be raised through a long-term Sukuk.
This structured approach towards Sukuk issuance reflects the strategic intent of PSX towards Islamic finance. For over two years, PSX has floated Sukuks and continued to contribute significantly to the development of the Islamic banking sector in Pakistan.
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